Russia sets up council for nano-technology

MOSCOW: The government of Russia has set up a state council for nano-technology to boost the development of knowledge-based industry.

The nano-technology state council would to be chaired by Russian First Deputy Prime Minister Sergei Ivanov, the government press office said.

Under the orders signed by Prime Minister Mikhail Fradkov the newly-created state council will ensure interaction between government, business and scientists in the implementation of the state policy in the spheres of nano-technology and nano-industry.

According to the newly-appointed chairman of the nano-technology council, Ivanov, at the initial stage the government would spend over USD one billion for the upgradation of facilities involved in nano-technology research and its commercialisation.

Earlier, president Vladimir Putin had asked the government to provide priority funding for nanotechnology research in advanced medicine, space exploration, telecommunications and weapons production.

In a parallel move, the state Duma (lower house), on Thursday approved a bill on the formation of the Russian nano-technology corporation, which will pool the efforts of public and private sector in the industry.